Trading-firm Official Charged With Embezzling

May 20, 1992

A former personal assistant to the president of a Chicago-based commodity- and options-trading company was indicted Tuesday on charges he embezzled more than $340,000 from his employer in a four-year scheme. Jeffrey S. Malone, 37, of 1161 Banyon Ct. in Naperville was named in a nine-count indictment charging him with mail fraud and income-tax evasion. While working for McDermott-Valentino & Co., Malone submitted fraudulent check requests to a trading clearinghouse, deposited the checks in his bank accounts and used the money for personal expenses, the government alleged.